U.S. President Donald Trump speaks before signing an executive order in the Oval Office of the White House on January 30, 2026 in Washington, DC.
Alex Wong | Getty Images
President Donald Trump announced the establishment of significant U.S. mineral reserves late Monday, sending mining company stocks higher in after-hours trading.
The proposal, known as “Project Vault,” would launch a first-of-its-kind strategic mineral reserve designed for the U.S. private sector, the president said Monday afternoon at the White House. The plan combines $1.67 billion in private capital and a $10 billion loan from the U.S. Export-Import Bank, White House officials said. President Trump’s move is aimed at reducing America’s dependence on China for materials vital to electric vehicles, defense systems and advanced technology.
MP materialShares of the company, which operates California’s Mountain Pass mine, rose more than 2% in after-hours trading. usa rare earths Critical Metals and Critical Metals rose more than 2% and 1%, respectively, as investors bet the initiative could accelerate domestic demand and government-backed lending to the sector.
Bloomberg News first reported the proposal early Monday.
USA Rare Earths is already in talks with Secretary of Commerce Howard Lutnick to sell domestic mining and magnet assets to the federal government. Those discussions would ultimately lead to a proposed deal that would provide the company with approximately $1.6 billion in financing and include U.S. government equity, subject to certain conditions.
The move builds on the more direct role Washington has begun to take on in this area. Last summer, the Department of Defense signed a landmark agreement with MP Materials that includes an equity stake, a price floor and a long-term agreement to purchase specified quantities of rare earth minerals and magnets.
—CNBC’s Spencer Kimball contributed to this report.
